Update Post: November 30, 2023 5:36 pm
Pressures persist on the stock markets. The premise of higher interest rates for longer continues to weigh on investors, leading the main parks of the Old Continent to experience setbacks. The Ibex 35, the Spanish stock market reference, starts the day with doubts and is leading it to put the level of 9,500 points at risk. It follows the trend of Paris (-0.4%), Frankfurt (-0.1%), London (-0.34%), while Milan stands out and is trading with a slight increase of 0.05%.
“From now on, it will be the behavior of inflation and, to a lesser extent, that of the growth of these economies, which will determine when the central banks will begin to reverse the aforementioned process of rate increases,” they specify from Link Securities, to point out which will be the expectations regarding the behavior of prices, which largely determine the short and medium-term evolution of Western stock markets.
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The stock markets are also weighed down by the falls in Asia, where Evergrande fell more than 20%, to 0.44 dollars (0.052 euros) after announcing that it cannot issue new promissory notes, since Hengda Real Estate, one of its main subsidiaries, is being investigated.
Back in Spain, the index is driven by the banking sector. Sabadell leads the increases with a rebound of 1.3%, followed by BBVA (+0.86%), Unicaja Banco (+0.8%) and Santander (+0.76%). Among the averages is Fluidra (+0.6%), in addition to other heavyweights such as Repsol (+0.8%) and Inditex (+0.18%). On the falling side, the index is weighed down by ArcelorMittal (-1.56%), Acerinox (-1.6%), Merlin Properties (-1.2%), Cellnex Telecom (-0.65%) and Bankinter (-0.68%).
At the opening of the stock market, the price of a barrel of Brent oil, a reference for the Old Continent, rose 0.5%, to 92.42 dollars, while Texas stood at 90.49 dollars, 0.5%. .51% by mass. Regarding currencies, the price of the euro against the dollar advances to 1.0646 ‘greenbacks’, while in the debt market the interest required on the ten-year Spanish bond climbs to 3.825%.